George is a director of Washington Corporation. Which of the following describes George's position with regards to Washington?

Bob is a city councilman and board member of Xault, Co. Bob, while acting in his capacity for the city, learns that a division of Xault is about to purchase a fairly sizeable tract of land in his town including a small piece of property that Bob owns and placed up for sale two years ago. Bob does nothing in either of his jobs to help promote that his land be purchased in the company's deal except to vote that the deal go forward. Subsequently, the land is purchased by Xault, and a shareholder sues the firm for wasting assets after the firm discovers that the property adjacent to the one that Bob owned that was included in the purchase, had a major environmental liability attached. In this situation, can Bob expect to face personal liability?

Terry is on the boards of two companies that compete in the aftershave market. Terry fails to disclose this conflict or to step down from either of the boards. If Terry's acts are discovered and he is sued for violating his fiduciary duties, under what theory is the suit likely to be filed?

Harold is a director of XO Co. In this capacity, he sold the company a piece of property that he owned. Because of his position, he sold the company for an amount slightly higher than he would have received on the open market. It turned out, however, that the property appreciated a great deal and the company sold it five years later for a significant gain. Is Harold liable for any act in the transaction?

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